Financial Insights Examines Customer Authentication Technology for Retail Financial Services Institutions

FRAMINGHAM, MA – AUGUST 20, 2003 – A new report by leading independent research and advisory firm Financial Insights explores technology solutions for customer authentication. The report, titled "Locks for All Kinds of Doors: Authentication Solutions Find Their Niche," looks at innovative, unconventional and emerging solutions offered by four software vendors and examines critical functionality and key considerations for retail financial institutions.

According to Financial Insights, there are numerous providers of customer authentication solutions that can protect retail

institutions, yet most do not adequately address the customer experience – arguably the most important consideration when implementing a customer authentication solution. The four vendors analyzed in the report offer solutions that should bring the concepts of knowledge-based, token-based, and attribute-based authentication out of the abstract and into the realm of practicality.

"Identity management is made up of three components – verification, authentication and business policy – and it's customer authentication solutions that serve as the shortcut, or proxy, for identity verification procedures," says Dennis Behrman, analyst in Financial Insights' Retail Financial Services group. "There are key considerations financial institutions must consider when selecting an authentication solution including: cross-channel integration, policy-level integration, degree of security improvement, future interoperability, and most importantly, preserving the customer experience."

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About Financial Insights, an IDC Company

Financial Insights provides independent research services to users and providers of financial industry technology. The

company was formed in November 2002 by combining Meridien Research and the IDC Financial Services Advisory group. The Retail Financial Services practice offers four areas of focus: Payments, Channels, Customer Strategies and Wealth Management. The Capital Markets practice offers Trading Technologies and all aspects of Risk Management. The Corporate Banking practice covers cash management, wholesale payments, trade finance, and small business banking. Each practice delivers reports detailing new issues and challenges and uses its knowledge to advise clients on technology related decisions. Financial Insights is an IDC Company, headquartered in Framingham, MA. Visit for more information.

IDC is a subsidiary of IDG, the world's leading IT media, research, and exposition company.